System and Method for Displaying Contextual Advertisements with Media

1. A method comprising: receiving, at a server on a network, a request from a user device, the request identifying a portion of a media object; searching a media object library associated with the server for the media object, said searching comprises identifying at least the portion of the media object stored in the media object library; parsing the media object, said parsing comprises identifying metadata associated with at least a portion of the stored media object; storing the metadata in at least one contextual information database associated with a computer-readable storage medium, the contextual information database being associated with the media object library; matching, via the server, advertisement information stored in an advertisement database with the metadata stored in the contextual information database, said matching is based upon the advertisement information and metadata for the media object relating to relevant data, said advertisement information relating to a specific advertisement; and transmitting at least the portion of the media object and the advertisement to the user device over the network to the user device, said advertisement being transmitted based on said matching of associated advertisement information and metadata.

2. The method of claim 1 , wherein said parsing further comprises: Identifying portions of media objects based on a granularity.

3. The method of claim 2 , wherein the granularity is a predetermined time period corresponding to the length of the media object.

4. The method of claim 2 , wherein the metadata identifies the entire media object.

5. The method of claim 2 , wherein the metadata comprises descriptive information for every portion of the media object.

6. The method of claim 1 , wherein request from the user device is an automated command request triggered by the rendered media object.

7. The method of claim 1 , wherein the media object library and the contextual information database are one hierarchical database.

8. The method of claim 1 , wherein the server comprises a plurality of servers on the network.

9. A system comprising: a plurality of processors; a media module implemented by at least one of said plurality of processors that retrieves a requested media object from a media object database; the media module parses and stores metadata associated the media object in at least one contextual information database; and an advertisement selection module implemented by at least one of said plurality of processors that accesses at least one data source containing contextual information describing portions of the requested media object, selects a different advertisement for each of at least two different portions of the requested media object based on the contextual information describing the at least two different portions stored in the contextual information database, and transmits the different advertisements to a requesting rendering device.

10. The system of claim 9 wherein the at least one data source includes: a metadata database containing descriptive information describing different portions of the media object.

11. The system of claim 9 wherein the requested media file is an audio file containing music and the at least one data source includes: a lyric database containing lyrics of the music.

12. The system of claim 9 wherein the requested media file is a video file containing verbal communications and the at least one data source includes: a closed caption database containing a transcript of the verbal communications associated with different portions of the media file.

13. The system of claim 9 wherein the at least one data source includes: a time tag database containing keywords associated with different points within the media file.

14. The system of claim 9 wherein the at least one data source includes: an advertisement database containing advertisements, wherein the advertisements are associated with the descriptive information stored in the metadata database.